SIGN OUR PETITION TO TELL CONGRESS NOT TO INCREASE THE DEBT LIMIT!
REASON #2
If they raise it, they will spend it.
Politicians in both parties want us to see the concern in their eyes and hear the emotion in their voices as they speak of an “unsustainable path” of spending that we are on. Unfortunately for them, we know the difference between words and actions. And we know, from experience, that if they get their hands on more money, they will spend it. Therefore, if we raise the debt ceiling by $2 trillion, as they want to do, all we can say for sure is that we will be $16.3 trillion in debt instead of $14.3 trillion. How exactly does that remove us from the unsustainable path?
- The debt ceiling has been raised 10 times in 11 years. In fact, since Congress enacted the first debt limit, they have never failed to raise it.
- Since World War II, government spending, on average, accounted for around one-fifth, or 19.6 percent, of GDP. Today, federal spending accounts for over one quarter, or 25 percent, of GDP.
- The national debt in 2006 stood at approximately $8.5 trillion. The debt is now over $14 trillion.(It’s actually over $100 trillion if we count unfunded liabilities.)
The federal government spends over $114,000 per second. The median household annual income is approximately $49,777. Think about this. If your annual family income were $50,000, you would spend about one-sixth of one cent per second. It would take your family around six seconds to spend one penny! In the same time it takes your family to spend one measly cent, the federal government will spend over $700,000. And in the politicians’ eyes, it is your family that should fork over even more money every year.
(Just for fun, how much do the “wealthy” spend per second? You know, those greedy people that need to “pay their fair share” that earn $250,000 annually? Yeah, they spend four-fifths of one penny per second – not even one whole cent per second. And keep in mind that most families don’t even spend their entire salaries. Our estimations don’t take into account taxes or money not spent due to savings and retirement accounts, etc. So our numbers here only reflect a hypothetical family that could spend every penny they earn.)
Doesn’t this make you wonder what they’re spending all that money on? Wouldn’t you like to know if all of that spending is legitimate? When the government spends $699,999.99 more than your family every six seconds, you have a right to ask questions and to know if they are spending your family’s money wisely. And you most definitely have the right to demand that the spending spree be stopped. NOW.
Click Here for Reason #1: We Must Prioritize Our Spending
Enough is enough.
America deserves better.
